Despite the increasing number of data breaches and nearly 36.6 million data records being lost or stolen in India in 2016, majority of IT professionals
still believe perimeter security is effective at keeping unauthorised users out of their networks. However, firms are under investing in technology
that could protect their business, according to the findings of the fourth-annual Data Security
Confidence Index published by Gemalto, one of the leading global digital security company.
Surveying 1,050 IT decision makers worldwide, businesses feel that perimeter security is keeping them safe. Out of the 100 IT decision makers from India, 98 per cent believe it is quite effective at keeping unauthorised users out of their network.
About 49 per cent are not confident that their data would be protected, should their perimeter be breached. Despite this, nearly seven in 10 (69 per cent) organisations report that they believe all their sensitive data is secure. Perimeter security is the focus, but understanding of technology
and data security
Many businesses are continuing to prioritise perimeter security without realising it is largely ineffective against sophisticated cyberattacks.
data and insights company, App Annie has published a report titled,‘How to succeed in the app economy’.
According to the report, more consumers than ever before are turning to mobile for their financial interactions. Last year, total worldwide sessions in finance apps increased by over 36 per cent compared to 2015.
For banks, it is important to keep pace with the constant introduction of new technologies and growing consumer expectations to ensure a best-in-class app experience. Next, removing friction from financial services is key to earning loyalty.
The report highlights that mobile devices are an integral part of customers’ lives today. Hence, it is critical to to personalise apps to generate stickiness.